Financial Management Professionals Inc. Reduces Position in Meta Platforms, Inc. (NASDAQ:META)

Financial Management Professionals Inc. lowered its position in Meta Platforms, Inc. (NASDAQ:META) by 3.8% in the third quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 2,032 shares of the social networking company’s stock after selling 80 shares during the quarter. Financial Management Professionals Inc.’s holdings in Meta Platforms were worth $1,163,000 as of its most recent filing with the Securities and Exchange Commission.

Other large investors have also modified their holdings of the company. International Assets Investment Management LLC raised its stake in Meta Platforms by 57,001.5% during the 3rd quarter. International Assets Investment Management LLC now owns 9,517,111 shares of the social networking company’s stock valued at $5,447,975,000 after acquiring an additional 9,500,444 shares during the last quarter. Capital Research Global Investors increased its holdings in shares of Meta Platforms by 14.5% in the first quarter. Capital Research Global Investors now owns 34,597,001 shares of the social networking company’s stock valued at $16,799,612,000 after purchasing an additional 4,379,826 shares during the period. Jennison Associates LLC increased its holdings in shares of Meta Platforms by 24.7% in the first quarter. Jennison Associates LLC now owns 13,867,398 shares of the social networking company’s stock valued at $6,733,731,000 after purchasing an additional 2,748,620 shares during the period. Sustainable Growth Advisers LP purchased a new stake in shares of Meta Platforms during the second quarter worth approximately $595,152,000. Finally, Vanguard Group Inc. lifted its holdings in shares of Meta Platforms by 0.4% during the first quarter. Vanguard Group Inc. now owns 187,180,393 shares of the social networking company’s stock worth $90,891,055,000 after purchasing an additional 831,047 shares during the period. 79.91% of the stock is owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

A number of brokerages have commented on META. Benchmark restated a “hold” rating on shares of Meta Platforms in a research report on Thursday, July 25th. Deutsche Bank Aktiengesellschaft raised their price objective on shares of Meta Platforms from $525.00 to $585.00 and gave the company a “buy” rating in a research report on Thursday, August 1st. Sanford C. Bernstein increased their target price on Meta Platforms from $600.00 to $675.00 and gave the stock an “outperform” rating in a research note on Friday, October 25th. DA Davidson started coverage on Meta Platforms in a research note on Tuesday, September 10th. They issued a “buy” rating and a $600.00 price target on the stock. Finally, TD Securities upped their price objective on Meta Platforms from $530.00 to $600.00 in a report on Wednesday, July 10th. Two analysts have rated the stock with a sell rating, four have given a hold rating, thirty-five have issued a buy rating and two have given a strong buy rating to the stock. According to data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average price target of $621.63.

Insider Activity

In other news, CFO Susan J. Li sold 33,018 shares of Meta Platforms stock in a transaction dated Tuesday, August 27th. The stock was sold at an average price of $517.94, for a total transaction of $17,101,342.92. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. In related news, CFO Susan J. Li sold 8,950 shares of the company’s stock in a transaction on Thursday, August 15th. The shares were sold at an average price of $526.76, for a total value of $4,714,502.00. Following the sale, the chief financial officer now directly owns 74,579 shares of the company’s stock, valued at $39,285,234.04. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, CFO Susan J. Li sold 33,018 shares of the firm’s stock in a transaction on Tuesday, August 27th. The stock was sold at an average price of $517.94, for a total transaction of $17,101,342.92. The disclosure for this sale can be found here. Insiders have sold 251,230 shares of company stock worth $132,784,843 over the last 90 days. Company insiders own 13.71% of the company’s stock.

Meta Platforms Stock Performance

Shares of META stock opened at $593.28 on Wednesday. The company has a current ratio of 2.83, a quick ratio of 2.83 and a debt-to-equity ratio of 0.12. The company has a market cap of $1.50 trillion, a PE ratio of 34.08, a P/E/G ratio of 1.42 and a beta of 1.22. The company’s fifty day simple moving average is $553.36 and its 200-day simple moving average is $511.61. Meta Platforms, Inc. has a 52 week low of $296.86 and a 52 week high of $602.95.

Meta Platforms (NASDAQ:META) last issued its earnings results on Wednesday, July 31st. The social networking company reported $5.16 earnings per share for the quarter, topping the consensus estimate of $4.70 by $0.46. The company had revenue of $39.07 billion during the quarter, compared to the consensus estimate of $38.26 billion. Meta Platforms had a return on equity of 34.16% and a net margin of 34.34%. The company’s revenue was up 22.1% compared to the same quarter last year. During the same quarter in the prior year, the business earned $3.23 earnings per share. As a group, equities research analysts anticipate that Meta Platforms, Inc. will post 21.44 EPS for the current year.

Meta Platforms Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Thursday, September 26th. Shareholders of record on Monday, September 16th were given a $0.50 dividend. This represents a $2.00 annualized dividend and a yield of 0.34%. The ex-dividend date of this dividend was Monday, September 16th. Meta Platforms’s dividend payout ratio (DPR) is 11.49%.

Meta Platforms Profile

Meta Platforms, Inc engages in the development of products that enable people to connect and share with friends and family through mobile devices, personal computers, virtual reality headsets, and wearables worldwide. It operates in two segments, Family of Apps and Reality Labs. The Family of Apps segment offers Facebook, which enables people to share, discuss, discover, and connect with interests; Instagram, a community for sharing photos, videos, and private messages, as well as feed, stories, reels, video, live, and shops; Messenger, a messaging application for people to connect with friends, family, communities, and businesses across platforms and devices through text, audio, and video calls; and WhatsApp, a messaging application that is used by people and businesses to communicate and transact privately.